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Istisna

  • Flexible
    Operations
  • Multiple
    Finance Options
  • Flexible
    Repayment Options
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Istisna Financing

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Plan the future with Sharia-compliant finance solutions that support the construction of buildings, aircrafts, machine equipment and more.

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What is Istisna?

Istisna is a Sharia mode of financing used to finance the construction of buildings, residential towers, villas and related products, as well as the manufacturing of aircrafts, ships, machines and equipment.

How it works:
As a customer, if you own a plot of land and want to construct property on it and need financing for this purpose, Dubai Islamic Bank will sign an Istisna agreement with you in relation to the construction of the building as per your specifications at the cost of the bank. The bank will then get the sale price from you on a deferred payment basis.

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Terms Of Financing

  • Down Payment: Minimum 25% of total construction cost
  • Transaction Period: Up to 10 years
  • Payment Mode: Quarterly, Semi-annual or Annual terms are available

  • Source of Payment: Business cash flows, rentals
  • Pricing Rate: Fixed throughout the financing period
  • Security: First class mortgage on the plot and building, post dated cheques covering installments
  • Takaful (Islamic Insurance): Takaful policy covering the property under construction to be assigned to the Bank
  • Qualified Assets: Residential, Office Buildings and Villa Complexes

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Documentation

With our team of skilled professionals, applying for Istisna finance is simple and stress-free, with primary documents varying based on requirement. Note that requirements may be lowered in cases where additional security is provided.

Primary Documents for Individuals:

  1. Valid passport copy
  2. Completed finance application form
  3. Site plan copy
  4. Title deed copy
  5. Feasibility study by project consultant
  6. Construction/Engineering plans

Primary Documents for Companies:

  1. Valid trade license copy
  2. Commercial Registry copy
  3. Partnership agreement copy (in case of partnerships)
  4. Chamber of Commerce and Industry copy
  5. Valid passport copies of partners (in case of partnerships)
  6. Valid passport copy of authorized personnel and copy of Articles of Association defining their powers
  7. Site plan copy
  8. Title deed copy
  9. Project consultant feasibility study
  10. Last 3 years’ financials
  11. Construction/Engineering plans

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17 March 2021

Dubai Islamic Bank Shareholders Approve 20% Dividend as Robust Growth Continues Despite Economic Challenges

16 February 2021

Dubai Islamic Bank Full Year 2020 Group Financial Results

09 January 2021

Dubai Islamic Bank is Ready For The New

14 November 2020

Dubai Islamic Bank successfully closes the lowest ever yielding AT1 Sukuk

02 November 2020

A new chapter unfolds in DIB’s rich history with the successful integration of Noor Bank

20 October 2020

Dubai Islamic Bank 3rd Quarter 2020 Group Financial Results

22 July 2020

Dubai Islamic Bank First Half 2020 Group Financial Results

10 June 2020

Dubai Islamic Bank successfully closes landmark USD 1 billion Sukuk

29 April 2020

Dubai Islamic Bank 1st Quarter 2020 Group Financial Results

16 March 2020

Dubai Islamic Bank Shareholders Approve 35% Dividend as Net Profit Rises to AED 5.1 Billion

12 February 2020

Dubai Islamic Bank Full Year 2019 Group Financial Results

11 February 2020

Dubai Islamic Bank Participates in the 22nd National Career Exhibition

22 January 2020

DIB completes the acquisition of Noor Bank

18 December 2019

Shareholders of Dubai Islamic Bank approve acquisition of Noor Bank

27 November 2019

Dubai Islamic Bank Walks Home with Two Prestigious Accolades at Banker ME Industry Awards 2019

18 November 2019

Dubai Islamic Bank successfully closes landmark USD 750 million Sukuk

05 November 2019

Dubai Islamic Bank introduces “Banking in Minutes” as it enters the next decade as a Digitally Intelligent Bank

27 October 2019

Dubai Islamic Bank Shines at the Islamic Business and Finance Awards 2019

15 October 2019

Dubai Islamic Bank Group 3rd Quarter 2019 Financial Results

29 September 2019

Dubai Islamic Bank continues to Successfully Create Growth Opportunities for Emiratis

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